Student Association For International Affairs

Turkey sees $2.8 billion FDI inflow in first quarter of 2017

Turkey attracted $2.8 billion net foreign direct investment (FDI) in the first quarter of the year with a 1.9 percent year-on-year increase, data from the Economy Ministry showed on May 23.

A total of $1.6 billion FDI entered into the country in March, according to the ministry data.

Some 422 foreign-funded companies and branches were formed and 11 local companies 42 local companies took foreign capital in March, making a total of 54,493 companies with international capital operating in Turkey.

In the first quarter of the year, a total of 1,295 foreign-funded companies and branches were established and 42 local companies lured foreign capital in Turkey, most of which operate in the commerce, real estate and construction sectors.

Of these 1,337 companies, some 830 were funded by businesses from the Near East and the Middle East, some 210 by EU-based companies and 88 by North African firms.

Almost half of the 54,493 international companies operating in Turkey were funded by EU countries by the end of March, with Germany taking the lion’s share with a total of 6,944 companies. Germany was followed by the United Kingdom with 3,011 companies and the Netherlands with 2,737 companies, according to the ministry data.